LAW FIRM OWNERSHIP

Summary

The bill stops private‑equity groups, hedge funds, and related entities from influencing attorneys’ professional judgment, hiring, or client records, and bans fee arrangements that tie a lawyer’s earnings to those entities. It also limits Illinois lawyers from sharing fees with out‑of‑state alternative business structures unless they are licensed in that state and the fees comply with that state’s rules. The aim is to protect client interests and keep attorneys independent.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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